HV020124

Are You Selling Your Home?

In most cases a buyer will conduct an inspection when purchasing a home and a radon test is typically conducted.

Be sure to use a trusted, LOCAL radon mitigation company.

208 S. Sycamore Ave., Sioux Falls, SD 605-201-4704 dakotaradon.com

BEAUTIFUL

ININSTALLATION STALLATION SERVICE SERVICE TEST TEST WARRANTY WARRANTY

spacious kitchen

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FEB. 01 - FEB. 07, 2024

1029 E. COTTONWOOD DR., BRANDON, SD 4 Bed | 2 Bath | 2,105 sq ft

$349,900

Heather Elrod 605.759.5030 Broker Associate, ABR, SRS, SRES

Think Heather, Think Home.

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Feb. 01 - Feb. 07, 2024

Michels Communications Corporation PO Box 91606, Sioux Falls, SD 57109

NEW LISTINGS & OPEN HOUSES Hanna Michels PAGE 9

For Advertising Information, Please Contact:

1.605.760.4269 hanna@michelscom.com

Jill Foley 1.712.490.8506 jill@michelscom.com

Kevin Culhane 1.605.661.8509 kevin@michelscom.com

Kaylee Langseth 1.712.574.0618 kaylee@michelscom.com

Make yourself at home HANNA MICHELS

JILL FOLEY

KEVIN CULHANE

KAYLEE LANGSETH

There’s nothing like that feeling of calling something your own.

South Dakota Housing Development Authority focuses on giving that feeling to as many South Dakotans as possible. Their homeownership programs offer benefits for first-time buyers and those buying again. Whether it's homebuyer education, or down payment and closing cost assistance, Heritage Bank can explore the many ways SDHDA can help you become a homeowner.

Ryan KAUFMAN

MORTGAGE LOAN ORIGINATOR NMLS #1503898 | 605.252.5698 RKAUFMAN@HERITAGEBANKNA.COM

MEMBER FDIC | NMLS ID #446440

Marshall CRAWFORD MORTGAGE LOAN ORIGINATOR NMLS #1024634 | 605.310.5643 MCRAWFORD@HERITAGEBANKNA.COM

CORNER OF 8TH AND PHILLIPS | (605) 331-7951 | 1-800-344-7048 | WWW.HERITAGEBANKNA.COM

RASE 2023 HOUSING MARKET STATISTICAL REPORTING 12-MONTH PERIOD SPANNING 12/2022 THROUGH 11/2023

-2.0%

+8.7%

+9.5%

Change in Closed Sales

Change in Inventory

Change in Median Sales Price

Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-month and 14.6% year-over-year as of last measure, as prospective buyers, faced with rising homeownership costs, wait for mortgage rates, and home prices, to drop.

New Listings in the Sioux Falls region increased 18.3% to 473. Pending Sales were up 28.9% to 401. Inventory levels rose 8.7% to 1,404 units.

Prices continued to gain traction. The Median Sales Price increased 9.5% to $313,175. Days on Market was up 8.6% to 76 days. Buyers felt empowered as Months Supply of Homes for Sale was up 25.0% to 4.0 months.

Inventory remains at historically low levels nationwide, with only 1.15 million homes for sale heading into November, a 5.7% decline compared to the same time last year, for a 3.6 months’ supply at the current sales pace. The shortage of available properties for sale has kept pressure on home prices, which have continued to climb despite the slowdown in sales. According to NAR, the U.S. median existing-home sales price increased 3.4% from a year ago to $391,800, an all-time high for the month, with annual price gains reported in all four regions of the country.

+38.0%

Price Range With the Strongest Sales: $800,001 to 900,000

+20.3%

+1.6%

Construction Status With Strongest Sales: New Construction

Property Type With Strongest Sales: Condo-Townhouse Attached

Low inventory, elevated sales prices, and decades-high interest rates continue to weigh on the housing market, causing sales of existing homes to fall to their slowest pace since August 2010. According to the National Association of REALTORS® (NAR), U.S. existing-home sales declined 4.1% month-over-month and 14.6% year-over-year as of last measure, as prospective buyers, faced with rising homeownership costs, wait for mortgage rates, and home prices, to drop. For the 12-month period spanning December 2022 through November 2023, Pending Sales in the Sioux Falls region were down 12.0% overall. The price range with the largest gain in sales was the $800K to $900K range, where they increased 38.0%.

+22.3% Change in New Listings

+2.0% Change in Closed Sales

+7.9% Change in Median Sales Price

The overall Median Sales Price was up 5.0% to $306,000. The construction type with the largest price gain was the New Construction segment, where prices increased 4.4% to $365,400. The price range that tended to sell the quickest was the $100K to $150K range at 61 days; the price range that tended to sell the slowest was the $700K to $800K range at 103 days.

Market-wide, inventory levels were up 8.7%. The construction type that gained the most inventory was the New Construction segment, where it increased 13.7%. That amounts to 3.8 months supply for Single-Family homes and 4.5 months supply for Condos.

2415 W. 57th St., Sioux Falls, SD 57108 rase-inc.org

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Feb. 01 - Feb. 07, 2024

CONVENIENCE I S K E Y. FREE remote with motorization order

25%-40% OFF

*

605.332.7265 | budgetblinds.com 828 S Highline Place | Sioux Falls, SD 57110 Find us on

BudgetBlindsSiouxFalls

*Select products only. Offer not valid with any other offers. Offer good at time of initial estimate only. Offer good at participating franchises only. Each franchise independently owned and operated. Budget Blinds is a registered trademark of Budget Blinds, Inc. and a Home Franchise Concepts brand.

HOME

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SHOW HOURS:

Friday 1PM - 7PM Saturday 9AM - 7PM Sunday 11AM - 4PM

Sioux Empire Home Show February 23-25

Be Prepared to Be Inspired. Witness the magic that happens when creativity and functionality collide. Be prepared to be inspired by unique concepts, ingenious designs, and solutions that cater to your individual style and preferences.

605-361-8322

Save the Date

|

Powered By:

hbasiouxempire.com

Take the HBA Events on the go!

DOWNLOAD THE APP

RICK TRAPP 605.728.8521 • rick.trapp3@gmail.com

OPEN HOUSE SAT 1-2:30 PM

4537 & 4539 W. GRACELAND PL., SIOUX FALLS, SD 2 Bed • 2 Bath • $342,000

Slab-on-grade twin home built by Reliahomes LLC. Open floor plan with electric fireplace and tray ceiling in the living room.

The kitchen has a center island with a sink along with a pantry.

The primary bedroom offers a walk-in closet and a 3/4 bath with tiled shower. The second bedroom also offers a walk-in closet. The laundry area includes a sink and single closet. The garage features hot & cold water hook-ups and an epoxy floor.

The property is landscaped and located near bike trails and shopping. HOA is for snow removal on streets.

OPEN HOUSE SAT 1-2:30 PM

OPEN HOUSE SUN 1-2:30 PM

4520 W. GRACELAND PL., SIOUX FALLS, SD

122 LAKE RIDGE DR., WENTWORTH, SD

3 Bed • 2 Bath $355,000

5 Bed • 3 Bath $422,500

RICK TRAPP 605.728.8521 • rick.trapp3@gmail.com

OPEN HOUSE SUN 1-2:30PM

SALE PENDING

23746 461 A AVE. #4, WENTWORTH, SD

200 W. 1ST ST., HARTFORD, SD

23790 461ST A AVE. #34, WENTWORTH, SD

3 Bed • 2 Bath $299,900

4 Bed • 3 Bath $245,900

2 Bed • 1 Bath $148,000

0 LAKE RIDGE DR. LOT 12, 13, & 14

W. 3RD AVE., HUMBOLDT, SD

LAKE RIDGE DR., WENTWORTH, SD

$55,000 Each

0.29 Acres $40,000

0.67 Acres $70,000

$5,000 anything allowance for buyer.

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not sure if 2024 is the year to buy or sell CALL ME TO DISCUSS!

MICHAEL RAYNIE Broker Associate

Feb. 01 - Feb. 07, 2024

LET’S FIND YOU A BACKYARD THAT’LL MAKE YOUR DOG SMILE HOME

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605.351.9446

PRICE REDUCED | OPEN HOUSE SAT 12-2PM

OPEN HOUSE SUN 1-2:30PM

909 E. PINE ST. BRANDON, SD $350,000

NEWLY REMODELED 3 BEDROOM, 2 BATH WITH A 2+ HEATED GARAGE Well maintained home. Open main level with beautiful white oak on the main, beautiful tiled entry, family room flooring is beautiful with a gas fireplace. From the moment you walk up to the home with the tiled walkway and inviting foyer entry you will see the beauty and quality of this home.

Living room, kitchen and dining are vaulted and open.

White kitchen cabinets, newer appliances that stay. 2 large bedrooms on the main. Bed 2 is being used as a TV room.

Primary bedroom can handle that king-sized bed and still you have room for a large dresser. Walk in Closet and a pass through to a full bath. Family room is huge and divided into 2 sections, one for conversation and the other to nuzzle in with the gas fireplace while watching football. Bed 3 is large with a garden window. Bath down is full and also laundry.

Garage is 24 wide and 28 deep. Patio and a deck. Move in ready, are your boxes packed?

JULIE JOHNSON 605-366-1363

6816 W. 32ND ST. SIOUX FALLS, SD $545,000 4 BEDROOM, 3.5 BATH Westside Beauty! 4 bedroom, 3.5 bath. 3 car garage with the 3rd stall framed off and is heated, was previously used as a workshop. Low maintenance with vinyl siding and trex decking. Main floor laundry/mudroom off garage with a separate half bath. Large kitchen with custom cabinets, snack bar and appliances are included. Main floor office or could be formal dining. Formal living and main floor family room and sunroom that leads you to back yard decking. Primary suite includes double sinks, soaking tub and separate shower.

3 bedrooms same level. Please take note of the brick accent exterior. Rather sitting out front on the covered entry or one of the 3 back yard outdoor space or even the sunroom. This home is set up for entertaining.

RE/MAX PROFESSIONALS, INC.

www.HomeViewemag.com

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OPEN HOUSE SATURDAY, FEBRUARY 3 BRANDON

SATURDAY 1-2:30 PM 4537 & 4539 W. Graceland Pl.- $342,000 2 Bed, 2 Bath Rick Trapp 605-728-8521 Exp Realty

SIOUX FALLS

SATURDAY 1-2:30 PM 4520 W. Graceland Pl.- $355,000 3 Bed, 2 Bath Rick Trapp 605-728-8521 Exp Realty

SUNDAY, FEBRUARY 4 SIOUX FALLS

SUNDAY 1-2:30 PM 6816 W. 32nd St. - $545,000 4 Bed, 3.5 Bath Julie Johnson 605-366-1363 RE/MAX Professionals, Inc.

WENTWORTH

SUNDAY 1-2:30 PM 122 Lake Ridge Dr.- $422,500 5 Bed, 3 Bath Rick Trapp 605-728-8521 Exp Realty

WENTWORTH

SUNDAY 1-2:30 PM 23746 461 A Ave. #4- $299,900 3 Bed, 2 Bath Rick Trapp 605-728-8521 Exp Realty

OPEN HOUSES • OPEN HOUSES • OPEN HOUSES OPEN HOUSES • OPEN HOUSES • OPEN

SATURDAY 12-2 PM 909 E. Pine St. - $350,000 3 Bed, 2 Bath Julie Johnson 605-366-1363 RE/MAX Professionals, Inc.

SIOUX FALLS

EW LISTINGS • NEW LISTINGS • NEW LISTINGS

Feb. 01 - Feb. 07, 2024

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Feb. 01 - Feb. 07, 2024

PRICE REDUCED

2805 E. AUGUSTA CIR., BRANDON, SD 3 Bed, 2 Bath • 1,629 Sq.Ft. • 3-Stall Garage • $539,000 630 QUARTZITE AVENUE TEA, SD

0.3 acres • $79,900

Chuck Moss

605-376-6722 • realpro22@gmail.com Licensed in SD

Feb. 01 - Feb. 07, 2024

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Page 11

HOME IS WHERE

the heart is YOUR REFERRALS ARE THE HEART OF OUR BUSINESS. GIVE ME A CALL FOR ALL OF YOUR REAL ESTATE NEEDS!

$575,000

PRICE REDUCED | $269,900

PRICE REDUCED | $349,900

1304 W. STONEGATE DR., SIOUX FALLS, SD 3525 E. SIASCONSET PL., SIOUX FALLS, SD

1029 E. COTTONWOOD DR., BRANDON, SD

5 Bed | 3.5 Bath | 3,075 sq ft

3 Bed | 2.5 Bath | 1,383 sq ft

4 Bed | 2 Bath | 2,105 sq ft

$305,000

PRICE REDUCED | $179,900

PENDING

802 BROADWAY AVE., VALLEY SPRINGS, SD

808 N. KIWANIS AVE., SIOUX FALLS, SD

1210 W. 57TH ST. APT 202, SIOUX FALLS, SD

2 Bed | 1 Bath | 3,360 sq ft

3 Bed | 1 Bath | 1,097 sq ft

2 Bed | 2 Bath | 1,524 sq ft

SOLD

800 BROADWAY AVE., VALLEY SPRINGS, SD

2 Bed | 1 Bath | 3,360 sq ft

Heather Elrod 605.759.5030 Broker Associate, ABR, SRS, SRES

Think Heather, Think Home.

5 WAYS TO KNOW

YOU’RE READY

TO BUY A HOME Courtesy of ArticleBiz

Purchasing a home can be one of the most significant decisions

is also recommended that you find a great real estate agent that

you make in your life. It’s essential to ensure that you are ready

you trust to help you make a better, informed decision. It costs

for such a commitment. Here are five ways to know you’re ready

you nothing and it only benefits you!

to buy a home: Remember, buying a home is a significant decision, and it’s 1. You have a stable income - When you purchase a home, you

important to make sure you’re ready for the commitment. By

need to make sure that you can afford the mortgage payments.

considering these five factors, you can determine whether you’re

Having a stable income that can cover the expenses associated

ready to take the leap into homeownership.

with owning a home is a good indication that you’re ready to buy.

It is never too late to start working on improving these aspects of 2. You have saved for a down payment - A down payment is a

your life. Take a moment and find the areas where you’re lacking,

significant cost when purchasing a home. Having saved enough

find the appropriate resources to help you improve those areas

for a down payment is a sign that you’re financially ready to buy

and you will be ready before you know it! One day at a time..

a home.

some progress, is STILL progress! You got this!

3. You have good credit - Lenders will look at your credit score to determine your mortgage’s interest rate and whether you qualify for a loan. If you have good credit, it may be a sign that you’re ready to buy a home.

4. You’re ready to settle down - If you’re ready to put down roots and settle in one place for an extended period, buying a home may be the right choice for you.

5. You’ve done your research - Before buying a home, it’s essential to research the market, the neighborhood, and the home itself. If you’ve done your research and feel confident in your decision, it may be a sign that you’re ready to buy a home. It

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Feb. 01 - Feb. 07, 2024

MATTERPORT 3D VIRTUAL TOURS WE ARE HERE TO HELP! HOME

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Book one of our virtual tours today to make your listings stand out from the rest!

Virtual tours are a great way to promote and showcase your listings during these uncertain times when sellers are leary to have increased traffic through their homes.

PROVEN RESULTS

Clients are 95% MORE LIKELY to call about homes with 3D Virtual Tours.

74% OF AGENTS using Matterport win more listings.

The average listing with a 3D Tour sold for up to 9% higher and closed up to 31% faster.

We are offering these tours to you at our LOWEST PRICE EVER! Contact your Marketing Consultant today for more information!

Hanna Michels 605-760-4269 Jill Foley 712-490-8506

Scan to see what your listing could look like!

Todd Nelson // Broker // 605.321.9147 toddnelsonrealtor.com // todd@toddnelsonrealtor.com Is a move in 2024 in your future? The market is heating up! If you have considered buying or selling this year but don’t know where to start, give me a call to discuss your options. I would be happy to meet with you and discuss your real estate goals for the new year!

UNDER CONTRACT

1055 N. James Ave., Tea, SD - $450,000

Built in 2021, this better than new slab on grade, 1.5 story home with zero step entry on main level is sure to please. Open floor plan on the main with vaulted ceilings. Fenced yard with patio that includes a hot tub. Located within walking distance to area schools, city park, pool and local ice cream shop.

UNDER CONTRACT

23983 432nd Ave., Canova, SD - $535,000

Looking for privacy and serenity with plenty of land? Check out this 51-acre property that includes four beds and two baths with oversized two-stall detached garage that is heated. Home has 2,904 finished square feet. Property includes four outbuildings.

PRSRT STD U.S. POSTAGE PAID Permit #7783 Mailed from zip code 57104-4877

Todd Nelson // Broker // 605.321.9147 toddnelsonrealtor.com // todd@toddnelsonrealtor.com REDUCED PRICE

608 S. RED SPRUCE CIR., SIOUX FALLS, SD - $549,900 Three-bedroom, three-bath home on the east side that is a short golf cart ride to Willow Run Golf Course. As you enter the home you will appreciate the openness of the space between the kitchen, dining and living room with an abundance of natural light. The kitchen has granite tops, a nice sized island and hidden pantry. You can access the covered deck from the sliders in the dining room. Both the upstairs living room and basement family room have gas fireplaces to cozy up to as the seasons begin to change. The primary suite includes a double vanity, tiled 3/4 shower and walk-in closet. A second bedroom and full bath finish out the main floor. Heading to the basement, you will enter a very large family room that is set up for a rec area and is plumbed to add a wet bar. The third bedroom and full bath are located in the basement. There is a potential 4th bedroom that is framed and ready for you to finish. HOA includes lawn, sprinkler (and water), snow, garbage and exterior maintenance.